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Henry Kissinger, the former US secretary of state and national security adviser who helped open up relations with China, usher in a detente with the Soviet Union and end America’s war in Vietnam, has died aged 100.

Kissinger’s death at his home in Connecticut was confirmed by Kissinger Associates, his consultancy, which described him as a “respected American scholar and statesman” in a statement last night.

His stints in government came during the 1970s, when he served Republican presidents Richard Nixon and Gerald Ford, at a time when cold war rivalries were evolving and economic tensions were consuming US foreign relations.

But his influence on world affairs and politics continued well past his days in the White House, Kissinger Associates noted, as he was consulted by US presidents of both political parties and foreign leaders.

While Kissinger’s push for more productive dialogue with China and the Soviet Union set the stage for a less tense phase of the cold war, he drew fierce criticism for adopting positions and taking actions that he deemed to be in US interests even if it meant supporting dictators and violating human rights around the world. Read more on the life of this polarising figure in US foreign policy.

  • Obituary: For the late American diplomat, realpolitik diplomacy was rooted in the understanding that achieving a balance of power required taking the interests of all parties into consideration, but not necessarily the interests of those not holding power.

Here’s what else I’m keeping tabs on today:

  • COP28 summit: The highly anticipated climate conference starts in the United Arab Emirates amid allegations that the host nation used its position to discuss oil and gas deals. Follow developments here.

  • Economic data: Canada releases third-quarter GDP figures, India releases its second-quarter GDP figures. Inflation in the eurozone has fallen far more than expected to 2.4 per cent in November.

  • US: The annual national Christmas tree lighting ceremony will take place in Washington.

  • Results: Royal Bank of Canada, Toronto-Dominion Bank, Salesforce, Dr Martens, Rémy Cointreau and Victoria’s Secret report.

Five more top stories

1. Israel and Hamas agreed to continue a fragile truce for at least another day to keep trading hostages in Gaza for Palestinian prisoners, as US secretary of state Antony Blinken landed in the region to try to facilitate the release of more captives. The agreement was announced just minutes before the temporary ceasefire was set to expire, and came after Hamas sent Israel a list of women and children it would free today.

2. Global bank executives have rounded on US regulators’ plans for new industry capital rules, warning that the Basel III endgame proposals are “fighting yesterday’s war” and putting financial market liquidity at risk. In interviews at the FT Global Banking Summit this week, US executives argued the current proposals would force lenders to cut back on credit and products, while their European counterparts echoed calls for a rethink despite standing to benefit from the EU’s less onerous interpretation of the standards.

3. US federal prosecutors have accused an unnamed Indian government official of orchestrating a “murder-for-hire” plot to kill a Sikh activist in New York. The Financial Times has confirmed that the target was Gurpatwant Singh Pannun, a dual US-Canadian citizen who is general counsel for Sikhs for Justice, a US-based group that is part of a separatist movement pushing for the creation of an independent Sikh state in India. Here’s how the allegation complicates Washington’s efforts to deepen relations with New Delhi.

4. California governor Gavin Newsom’s unusually friendly relationship with Fox News has fuelled speculation that he will run for president. The series of appearances on the channel, which is not considered hospitable territory for progressive Democrats from California, and his friendly relationship with the outlet’s star commentator and longtime Donald Trump ally, Sean Hannity, have led some commentators to believe he is now planning to run as early as 2024.

5. Elon Musk delivered a diatribe against advertisers who have halted spending on X due to his endorsement of an antisemitic post, deepening a rift between the billionaire and the companies that generate most of the social media platform’s revenue. In an interview at The New York Times Dealbook Summit yesterday, Musk called a recent exodus of big brands including IBM, Apple, Walt Disney, Comcast and Warner Bros “blackmail” and said it was “going to kill the company”.

The Big Read

A hand in a turquoise latex glove holds the working components of the Mate X5 smartphone
Components of a Huawei Mate X5 smartphone, including a Kirin 9000s chip fabricated in China by SMIC © James Park/Bloomberg

Nearly three years after the Trump administration hit Chinese mobile phone maker, Huawei, with crippling sanctions that cut it off from global semiconductor supply chains, it emerged with chips that were only a year or two behind the US company Qualcomm’s most advanced. Interviews with dozens of industry insiders and experts offer the closest look yet at how Huawei was able to overcome sanctions and surprise Washington.

We’re also reading and listening to . . . 

  • Berkshire Hathaway’s future: Following the death of vice-chair Charlie Munger, investors contemplate how the conglomerate will perform without Warren Buffett’s sounding board.

  • Artificial intelligence: Generative AI will bring benefits to market and financial research, but the next ecosystem could be very different and require new skills, writes Juan Luis Perez, former research head at Morgan Stanley and UBS.

  • Rachman Review 🎧: Experts discuss whether Donald Trump’s nomination in next year’s US presidential election is all but assured and, if so, what it means for Joe Biden’s chances of re-election.

Chart of the day

Line chart of where markets think the Fed funds rate (%) will be in... showing cuts coming

A comment made by Federal Reserve governor Christopher Waller on Tuesday – that if disinflation persisted for several more months “you could then start lowering the policy rate just because inflation’s lower” – prompted the two-year Treasury yield and the dollar to fall. His outlook, that rate cuts could be feasible at some point midway through next year, has started to catch on with markets pricing in cuts as early as May.

Take a break from the news

An illustration of Margot Robbie, Mira Murati and Narges Mohammadi
Margot Robbie, Mira Murati and Narges Mohammadi are among the FT’s 25 most influential women of the year © Mercedes deBellard

Influence — the power to persuade, advocate for change and imagine better ways of doing things — takes many forms. Nowhere is this more clear than in the FT’s 25 most influential women of the year. Meet the women at the helm of the world’s most profound transformations.

Additional contributions from Benjamin Wilhelm and Grace Ramos

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